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The tripartite meetings to finalise the probable budget framework for the upcoming 2023-24 and 2025-26 financial years will begin on February 13 and continue till March 4.
Ministries and divisions have already sent their respective budget proposals to the Finance Division and the Planning Commission. At least 60 meetings will be held between the division and various ministries, departments and divisions, said a Finance Division circular on Thursday.
The division’s senior secretary or additional secretary to the Budget and Expenditure Management Department will preside over these meetings.
The first tripartite meeting will be held on February 13 between the Finance Division, Planning Commission and Liberation War Affairs Ministry. The last meeting will be held with the Road Transport and Highways Division on March 4.
The ongoing FY2022-23 budget size is Tk 678,000 crore and the Finance Ministry’s coordination council has estimated that the size of the budget for FY2023-24 may exceed Tk 745,000 crore. However, this size may drop by Tk 20,000 crore in the revised budget, sources said.
This year, the inflation rate has been estimated at 5.6 per cent, although, according to various organisations and economists, the rate has exceeded 12 per cent.
Finance Ministry officials said that no one knows when the Russia-Ukraine war will end and the high inflation trend will continue in the next year as a result. For that reason, it will be proposed to set the inflation rate at 6 to 6.5 per cent in FY24.
